Crude Oil Prices

Crude Oil Prices News

Why has OPEC+ cut oil production? How will it impact crude prices and global economy?
Explainers

Why has OPEC+ cut oil production? How will it impact crude prices and global economy?

While the Saudi-led OPEC+ called the cut a necessary response to rising interest rates and a weaker global economy, analysts warn of a limited long-term upside for oil prices. The move could inadvertently trigger a global recession

Stock market: Sensex rises 322 points to close above 60,000 mark; Nifty settles above 17,900
Business

Stock market: Sensex rises 322 points to close above 60,000 mark; Nifty settles above 17,900

The 30-share index closed higher by 321.99 pts or 0.54 per cent at a three-week high of 60,115.13, as 21 of the index constituents closed in the green.The broader NSE Nifty spurted by 103 points or 0.58 per cent to settle at 17,936.35 points, with 36 of its constituents ending with gains

Rupee falls 4 paise to close at 79.88 against US dollar on rising crude oil prices
Business

Rupee falls 4 paise to close at 79.88 against US dollar on rising crude oil prices

At the interbank foreign exchange market, the local currency opened at 79.85 and saw an intra-day high of 79.81 and a low of 79.90 against the American currency

High crude oil prices help Saudi energy company Aramco earn $88 billion in first half
World

High crude oil prices help Saudi energy company Aramco earn $88 billion in first half

The oil and gas company, which is nearly entirely state-owned by Saudi Arabia, said this sets a new quarterly earnings record for Aramco since it first floated around 5 per cent of the company on the Saudi stock market in late 2019

Foreign Investors buy Indian shares worth massive Rs. 14000 crore in first week of August
Business

Foreign Investors buy Indian shares worth massive Rs. 14000 crore in first week of August

FPIs turned net-buyers in July after nine straight months of heavy net outflows, starting from October last year. From October 2021 to June 2022, they sold a massive Rs 2.46 lakh crore in Indian share markets

Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome
Business

Rupee gains 46 paise to 78.94 per US dollar ahead of RBI policy outcome

The RBI's rate-setting panel - the Monetary Policy Committee - will announce its bi-monthly review later in the day. Persistent foreign fund inflows into capital markets and softening crude oil prices boosted the local currency

Global factors, macro data, earnings to drive market trends this week, say analysts
India

Global factors, macro data, earnings to drive market trends this week, say analysts

According to the analysts, foreign fund movement, crude oil prices and trend in rupee would also act as major drivers for the equity market

Oil prices tumble over China's worsening COVID-19 outbreak; Twitter rises on Elon Musk deal
World

Oil prices tumble over China's worsening COVID-19 outbreak; Twitter rises on Elon Musk deal

Crude prices dove more than three per cent on growing concerns over Chinese lockdowns in response to its latest coronavirus wave

Russia-Ukraine crisis: 'Commodity, raw material prices may see steady rise; steel output to be hit'
Business

Russia-Ukraine crisis: 'Commodity, raw material prices may see steady rise; steel output to be hit'

Both Russia and Ukraine are net exporters of steel, cumulatively to the tune of almost 40 million tonnes, which will affect international steel availability, said Indian Steel Association

Rupee slips 13 paise to 8-week low of 74.44 against US dollar as crude oil prices rise
India

Rupee slips 13 paise to 8-week low of 74.44 against US dollar as crude oil prices rise

At the interbank foreign exchange market, Rupee opened on a weak note and witnessed an intra-day high of 74.41 and a low of 74.63 against the US dollar in day trade

Petrol crosses Rs 100 in Bihar after another price hike; diesel up by 25 paise
India

Petrol crosses Rs 100 in Bihar after another price hike; diesel up by 25 paise

The increase, second in as many days and 31st in less than two months, took rates across the country to fresh highs with Bihar becoming the latest state to see petrol cross Rs 100-a-litre mark

Oil prices gain for fourth day on signs of output cuts, better demand; Brent crude up 0.7% to $35 per barrel
Business

Oil prices gain for fourth day on signs of output cuts, better demand; Brent crude up 0.7% to $35 per barrel

Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic

Rupee slips 33 paise at 75.91 on concerns over rise in crude prices, weak domestic equities; stimulus fails to cheer investors
Business

Rupee slips 33 paise at 75.91 on concerns over rise in crude prices, weak domestic equities; stimulus fails to cheer investors

The rupee plummeted by 33 paise to close at 75.91 against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows

Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits
Business

Chidambaram dubs imposition of taxes on fuel as 'cruel' in times of distress; says govt must borrow to meet deficits

Governments must borrow to meet their deficits and not impose higher tax burdens when economic activity has ground to a halt amid the coronavirus pandemic, senior Congress leader P Chidambaram said on Wednesday after the Centre and the Delhi government hiked taxes on petroleum products

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel
Business

Oil marketing companies shares drop up to 13% post govt hikes excise duty on petrol, diesel

Shares of oil marketing companies -- Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd -- on Wednesday plunged up to 13 percent, a day after a hike in excise duty on petrol and diesel

Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel
Business

Govt to gain Rs 1.6 lakh cr additional revenues this fiscal from record excise duty hike on petrol, diesel

The cash-strapped government will gain close to Rs 1.6 lakh crore in additional revenues this fiscal from a record increase in excise duty on petrol and diesel, that will help make up for revenue it lost in a slowing economy and shutting down of businesses due to coronavirus lockdown

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50
Business

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50

The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost
Business

ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost

State-owned ONGC has asked the government to waive payment of oil cess and royalty as plummeting international oil prices have meant that the rate it now gets does not even cover the operating cost, sources said

Stock Market Today Latest Updates: Indices give up gains as Sensex tanks over 300 points, Nifty above 8,900-mark; bank, auto, energy stock fall
Business

Stock Market Today Latest Updates: Indices give up gains as Sensex tanks over 300 points, Nifty above 8,900-mark; bank, auto, energy stock fall

Stock Market Today LIVE Updates: Sensex soars above 770 points, Nifty crosses 9,200-mark; Rupee opens high

Coronavirus Outbreak: Oil prices jump on hopes of OPEC, Russia meeting tomorrow on output cuts
Business

Coronavirus Outbreak: Oil prices jump on hopes of OPEC, Russia meeting tomorrow on output cuts

Oil bounced back on Wednesday, with US crude jumping over $1, lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have crumbled amid the coronavirus pandemic